Press release
Hydronic Underfloor Heating Market Forecast to 2024 Reveals 8% CAGR Growth
Stringent government regulations pertaining to decarbonization of building along with upsurge in clean energy technology will stimulate the hydronic underfloor heating market size. High end technology acceptance and decrease in capital cost will further augment the business growth. In 2016, the European Commission introduced the updated Energy Efficiency Directive with a target inclusion of 30% energy efficiency by 2030.
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Hydronic Underfloor Heating Market size will exceed USD 5 billion by 2024; according to a new research report.
Standards toward adoption of energy efficient products coupled with rising awareness toward energy conservation will upsurge the hydronic underfloor heating market. Increasing consumption of energy by commercial sector owing to increasing spending on construction of commercial space including hotels, educational institutes, office and healthcare building will further complement the business outlook. In 2016, the U.S. commercial construction was valued at USD 74.2 billion when compared with USD 67 billion in 2015.
Increasing demand for space heating along with growing consumer awareness toward adoption of low emission heating systems will foster the U.S. hydronic underfloor heating market. Extreme climatic conditions with escalating energy price will further stimulate the product penetration. The Building Efficiency Standards introduced by California regulates the energy consumption by 28% in new buildings, enabling end consumers to save USD 31 monthly.
Commercial hydronic underfloor heating market is set to exceed USD 3 billion by 2024. Building codes and standards toward carbon footprint along with increasing spending toward infrastructural development will stimulate the industry landscape. Steady expansion of developed economies with growing demand for remodeling of existing commercial properties will further complement the business outlook.
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Paradigm shift in population demographics coupled with rise in the number of households will drive the hydronic underfloor heating market size. According to National Record for Scotland, there were 2.45 million households and 2.58 million dwellings in the country in 2015. Rapid urbanization and industrialization in emerging economies will further embellish the industry landscape.
Growing focus toward green building coupled with increasing deployment of concrete floors will embellish the hydronic underfloor heating market growth. In 2016, the United States Green Building Council certified projects were 33,269. Favorable government policies to reduce carbon footprint along with improvement in living standard will propel the business landscape.
UK hydronic underfloor heating market is set to witness growth over 9% owing to ongoing government mandate toward zero emission buildings. Measures to reduce emissions coupled with rising demand for efficient heating systems will further boost the product demand. The EU introduced Energy Efficiency Directive 2012/27/EU with an aim to incorporate the standardized framework for promoting energy efficiency.
Japan hydronic underfloor heating market is projected to exceed USD 200 million by 2024. Measures toward energy security along with high end technology acceptance will propel the business outlook. Rapid increase in the urban population along with introduction of building codes and standards will further fuel the industry growth.
Eminent players in the industry includes Hunt Heating, Siemens, Schneider Electric, Pentair, Robert Bosch, Warmup, Uponor Corporation, Nexans, Amuheat, H2O Heating, Honeywell International, Danfoss and Sensata Technologies.
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